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AUDUSD & NZDUSD bear trends intact

audusd chart

  • The US$ continues to react positively to economic data, even after an indecisive Employment report on Friday 3rd November, with the new Fed Chair seen as continuing the Yellen path.
  • Australian data continues to disappoint, particularly the CPI in late October, keeping the AUDUSD bias as bearish into November.
  • The bearish NZDUSD trend remains fully intact, despite a recent corrective rebound.

See all technical analyses

AUDUSD Bear pressures intact

A significant setback Friday through support at .7660, back from ahead of resistance at .7769, sustaining negative pressures from the late October sell off and push through support at .7731, leaving the bias lower Monday.

For Today:

  • We see a downside bias for. 7637/36, then quickly to .7624; through here targets .7602.
  • But above .7700 opens risk up to .7730, maybe .7769.

Intermediate-term Outlook – Downside Risks:

  • We see a negative tone with the bearish threat to .7568, maybe towards .7331.
  • Below here targets the .7155/41 area.

What Changes This? Above .7986 signals a neutral tone, only shifting positive above .8125.

Resistance and Support:

.7700 .7730 .7769 .7796 .7835*
.7637/36 .7624* .7602 .7568** .7532**

4 Hour AUDUSD Chart

audusd chart

NZDUSD Downside bias intact

A consolidation on Friday, but still contained below .6955 (at .6950), leaving negative pressures from the late October extension of the bear trend from September, to hit a key target at .6814, sustaining the bias to the downside Monday.

The early October break of .7128 set an intermediate-term bearish outlook, reinforced in October below .7049.

For Today:

  • We see a downside bias for .6855/50; break here aims at the key level at .6814.
  • But above .6942 quickly opens risk up to .6955, maybe towards .7003/04.

Intermediate-term Outlook – Downside Risks:

  • We see a negative tone with the bearish threat to .7003 and .6814.
  • What Changes This? Above .7211 signals a neutral tone, only shifting positive above .7434.

Resistance and Support:

.6950/55 .7003/04** .7056 .7105 .7163
.6855/50 .6814*** .6800** .6755 .6708

4 Hour NZDUSD Chart

 nzdusd chart

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